FanFood offers up to $3 million of 12% convertible promissory notes

Chicago, May 27 – FanFood, Inc. is offering up to $3 million convertible notes for growth capital through US Capital Global Securities, LLC, according to a press release.

The $25,000-par notes come with a 12% interest rate and a 36-month term.

Collateral for the notes is a second lien on all of the company’s accounts receivable, inventory, machinery and equipment, real estate, stipulated share pledge on principal’s shares and all other corporate assets.

The notes will have a conversion discount of 20%.

There is an option to extend if 12 months of accrued interest is paid.

The placement will be on a “best efforts” basis.

FanFood, based in Chicago, is a technology company that provides an online and mobile ordering platform to offer cashless and contactless services at facilities and events of all types and sizes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.